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Coinbase S-1

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Re: Coinbase S-1

#491

Post by yazaddaruvala »

ceejayoz wrote: post #347
koonsolo wrote: post #284

Earlier quoted context omitted.

Funny how this conversation started how crypto is slow and expensive, and now turned into slow and expensive is OK :P. In a crypto world, you don't need to convert to Euros. Are we in a crypto world yet? No. Will we live in crypto world in the future? Maybe, when it's faster and cheaper ;).

It's a bit of both. For the common transactions people make, crypto is both slow and expensive. I can Zelle someone instantly, for free. In the EU, Australia, etc., bank-to-bank transfers are similarly instant. I don't know that Bitcoin etc. ever get to totally free in this fashion, and it's probably 99.9% of most people's money transfer usage. For the uncommon transactions - like the $50k international transfer you…

How many "common transactions" do people use "money" for?

All "common transactions" use credit (even when you use a debit card). The banks approve transactions quickly, but reconcile those transactions slowly.

It'll be the same for any crypto that takes off but needs to reconcile slowly.

Re: Coinbase S-1

#492

Post by vmception »

chadash wrote: post #461
vmception wrote: post #407

Earlier quoted context omitted.

wow you have so many conflicting views, irrelevant comparisons between two types of markets and asset class, and don't seem to realize it? equities markets cant be compared to a commodity. so that invalidates your entire first paragraph, the longest one. as a corollary to that, don't derive your confidence from equities investors opining about commodities for the first time in their lives. you have equities investors…

> commodity It's not really a commodity. More of a currency. > you want high price for a longer period of time, but are turned off by the exact and only mechanism in which it gets there - large % and large $ amount price increases. fascinating. I'm not saying it's worth nothing. If bitcoin stays above 5k for a long time, i'm willing to say it's worth at least 5k. If it stays above 50k for a long time, i'll come aroun…

scarcity and liquidity then?

there’s nothing wrong with low float assets, really seems like you are making a separate higher standard for bitcoin

yes all cryptocurrencies inherit that capability to an extent, just have to convince others to share the same view, with the security of the database becoming the limiting factor

the future value of bitcoin are the drivers of its scarcity, if all of those drivers are too intangible for you then they wont become so

Re: Coinbase S-1

#493

Post by realradicalwash »

cactus2093 wrote: post #176
arnaudsm wrote: post #44

Many have forgotten why we used cryptocurrencies in the first place. The original promise of cryptocurrency was to become independent from banks. In the end CoinBase (like every exchange) is a great product, but just a bank. It's centralized, hackable, has economies of scale, etc.

Don’t speak for everyone there, “we” don’t all have the same reason. I like Bitcoin as a diversification for being a “better version of gold” - it has the scarcity and you can physically own it but it is much easier to store and send anywhere in the world if needed. These properties also mean that in a pinch, if you live in an unstable society or one facing high inflation it can work as an alternative financial syste…

Bitcoin was created with the use case currency in mind and it was used like that by the earlier adopters. I think this is what OP was pointing at with "Many have forgotten why we used cryptocurrencies in the first place" and certainly with the qualifier "many", I think OP is correct: That's how we initially used Bitcoin and other cryptos.

_Now_ many (most?) people use bitcoin as a store of value. But I think this is more out of necessity: Bitcoin as a currency is semi-dysfunctional.

> the westerners that seem to be almost rooting for their own society to collapse just to have another reason to use Bitcoin

I have not met a single person in my life with that motivation. However, I have met people who want to see the current system collapse, but mainly because it's not working for them.

Re: Coinbase S-1

#495

Post by 6gvONxR4sf7o »

> Address Not Applicable ^1

> ^1 In May 2020, we became a remote-first company. Accordingly, we do not maintain a headquarters.

Total tangent here, but every time I fill out a really old-school form (e.g. loan stuff), it asks for my company's address and phone number. It gets harder every job to figure out what the hell that number should be. In my last job I has to give out one of the founder's cell phone numbers for it.

Re: Coinbase S-1

#496

Post by wtf_is_up »

dd36 wrote: post #140
wtf_is_up wrote: post #130

Earlier quoted context omitted.

Coinbase isn't going public via SPAC. SPACs are underwritten by the usual suspects... GS, CS, DB, MS, etc.

What’s this called? It’s not underwritten per the first page. I’m not current on the nomenclature, apparently. I’m calling it a NoPO for no public offering.

Direct listing

Re: Coinbase S-1

#497

Post by krb686 »

WD-42 wrote: post #297
temp8964 wrote: post #288

Earlier quoted context omitted.

Can you "physically own" Bitcoin? Or what does "physically own" mean exactly? I kind of understand what "physically own" gold means, but not sure it means the same as "physically own" Bitcoin. Getting downvoted on this. I am not complaining about the downvotes, but seriously, please enlighten me...

If you use a local wallet to store your BTC, let’s say on a HDD, the the magnetic pattern on the disk that makes up the bits that represent your coins would be physically owning then. They can’t be retrieved any other way.

As codehalo pointed out, there's no magnetic pattern that represents coins on your hard drive. There is a magnetic pattern that represents your private key for your wallet (if you store it there), which possession of you might equate to possession of the coins to since without it they can't be used.

Still, access isn't really possession is it. I can lend my house key to a friend but they don't possess my house. The deed is what really declares me the owner. In the case of your coins, it's the consensus of the blockchain.

Re: Coinbase S-1

#499

Post by Judgmentality »

fullshark wrote: post #467
cactus2093 wrote: post #176

Earlier quoted context omitted.

Don’t speak for everyone there, “we” don’t all have the same reason. I like Bitcoin as a diversification for being a “better version of gold” - it has the scarcity and you can physically own it but it is much easier to store and send anywhere in the world if needed. These properties also mean that in a pinch, if you live in an unstable society or one facing high inflation it can work as an alternative financial syste…

I like bitcoin cause the price keeps going up. When that stops I won't like it so much.

I'm pretty sure this is 99% of the value of bitcoin for 99% of people that hold bitcoin.

Re: Coinbase S-1

#500

Post by remolacha »

uncletammy wrote: post #430
cactus2093 wrote: post #176

Earlier quoted context omitted.

Don’t speak for everyone there, “we” don’t all have the same reason. I like Bitcoin as a diversification for being a “better version of gold” - it has the scarcity and you can physically own it but it is much easier to store and send anywhere in the world if needed. These properties also mean that in a pinch, if you live in an unstable society or one facing high inflation it can work as an alternative financial syste…

> These properties also mean that in a pinch, if you live in an unstable society or one facing high inflation it can work as an alternative financial system. At the time of writing this comment, if you want your BTC transaction confirmed in the next hour it would cost you ~ 10USD ( https://bitcoiner.live/ ) . What planet do you live on where you think a non-negligible percentage of people in ANY country, let alone a…

There are L2s that solve this, in exchange for slower inclusion into the main chain. Or you can just trade wrapped BTC on another network. In that case, the Bitcoin main chain functions like a gold depository institution in traditional finance.
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